Bitcoin price has finally surged past $90,000, marking a recovery of nearly $20,000 in just over two weeks after its sharp decline below $75,000 on the second week of April.
Even better, the Bitcoin price broke above the $94K level, currently trading at $93,773, as per CoinGecko data.
What’s Driving Bitcoin’s Recent Price Surge?
Mostly easing trade tensions and a recent pause in tariff hikes that affected most countries, but mostly China. However, it seems the Trump administration is looking to lower import tariffs on Chinese goods, as per a report from The Guardian, who quoted President Trump stating:
We’re going to live together very happily and ideally work together.
This sparked optimism and fueled Bitcoin’s recovery. Last week, BTC regained roughly US$10,000 from its recent low, but the rally intensified sharply as the new week began.
Just this week alone, the asset had already reached $90k, as CryptoMode reported.
However, we can also see how investor demand for Bitcoin is receiving support from a declining US dollar. The U.S. Dollar Index (DXY), which tracks the greenback against other leading currencies, has declined by roughly 9% year-to-date, recently reaching a three-year low of 98.8 —a level not seen since April 2022, according to TradingView.
Almost $1B in Inflows for Bitcoin ETFs
Bitcoin ETFs experienced a significant resurgence this week, indicating renewed investor confidence after months of concern over escalating global trade tensions.
According to figures from Farside Investors, U.S. spot Bitcoin ETFs attracted net inflows exceeding US$912 million on April 22, the largest single-day total since January 21.
James Butterfill, CoinShares’ head of research, described the shift as a “dramatic improvement in sentiment,” noting it was the strongest inflow of funds into Bitcoin ETFs in more than three months.
Read more: Bitcoin’s Recent Rally Triggers $550M in Liquidations: Short Sellers Hit
